Salem Investment Counselors Inc. Has $1.88 Million Holdings in Intel Co. (NASDAQ:INTC)

Salem Investment Counselors Inc. trimmed its stake in Intel Co. (NASDAQ:INTC) by 29.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,831 shares of the chip maker’s stock after selling 39,447 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Intel were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after purchasing an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp raised its position in Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after acquiring an additional 9,422,136 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after acquiring an additional 7,207,785 shares in the last quarter. State Street Corp raised its holdings in shares of Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in shares of Intel in the 2nd quarter valued at $162,592,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America reissued an “underperform” rating and set a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Robert W. Baird lifted their price objective on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Mizuho decreased their target price on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price target (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $29.96.

Intel Stock Performance

NASDAQ:INTC opened at $19.20 on Tuesday. The firm has a 50 day moving average of $21.97 and a 200-day moving average of $23.58. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. Intel Co. has a 1 year low of $18.51 and a 1 year high of $50.30. The stock has a market capitalization of $82.81 billion, a P/E ratio of -5.16 and a beta of 1.07.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The business had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, sell-side analysts anticipate that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is owned by insiders.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.